US PVC continues with its relentless increases across the world
12:00 AM @ Monday - 01 January, 1900
American PVC offers have been emerging at noticeably higher levels in many global markets including Turkey, Egypt, Italy and China, tracking a similar trend as March, as per Chemorbis. In a weekly comparison, prices for American PVC to Turkey are US$65-95/ton higher. Furthermore, players in Turkey report hearing American PVC prices at least US$40/ton above the current levels. In Egypt, following a trader who sold out his American PVC cargoes in the import market with increases of around US$20/ton week over week, new offers for this origin have started to show up even higher for new shipments, pulling the high end of this week’s American offer range up by US$78/ton on CIF Alexandria, cash equivalent basis. Buyers also confirmed that the newly emerged prices indicate significant increases compared to the previous levels, attributing this situation to the ongoing repercussions of the Japan earthquake which caused VCM supplies and PVC availability in turn, to tighten across Asia, paving the way for higher PVC prices out of America. A trader in Egypt expects to see further increases on American PVC as some of his suppliers are already pronouncing higher export offers out of the country. Higher done deal levels in Asia for US PVC are confirming players’ comments. According to reports from China, American PVC sellers also raised their April prices to China by US$20/ton from the March done deal levels following last month’s US$70/ton increases. Higher US PVC prices were also seen in Italy, where a significantly higher import US offer showed up this week after a period of absence. According to a trader, American suppliers are not able to offer PVC to Italy and North Europe this month as their prices have reached very high levels while European PVC sellers are keeping their prices at relatively competitive levels considering the Easter holiday will shorten the working month. An American k67-68 offer in Italy this week was for April shipment cargoes indicates a large increase of US$100/ton (€71/ton with the recent parity) over March, according to a buyer who received this offer. After adding all applicable costs, this import k67-68 offer is standing at a level outside the Italian market, where local prices are available at least €100/ton lower for this grade.